If you're one of those punters who loves to bet for a place, then you would qualify as the type of 'gambler' who wants to receive regular collects. Place betting ensures that sensible punters get those regular returns.

But the other side of the coin is that you need patience to build up a sizeable bank. Your profits can be skimmed by a sudden bad run. It may be only six or seven outs, but that can be enough to demolish a carefully built-up bank!

If you possess a patient streak, then place betting will surely suit you. But what about if you wanted a bit more excitement? What if you wanted to try to capitalise on your selections?

I recommend you look a bit further than just a straight place bet. Why not go for an all-up for the place? Pick two bets for the day and link them in a double. Two placegetters paying, say, $1.60 and $1.70, linked in an all-up will return odds of around 7/4 for the double.

Backed separately you would win $1.30. Backing them all-up you win $1.70. That's quite a big edge.

You could also back two in the same race. This plan originally came from the United States and was drawn up with win betting in mind. But if you are backing good priced horses for the place you might well be able to use it successfully.

Two horses should be backed in each race. There are no price restrictions. Whenever both horses lose, the bets on the following race are raised by 1 unit. Following a winner (placegetter), irrespective of odds, the bets are reduced by 1 Unit.

Example: Let's assume you are backing in $20 units per horse and you back two losers in the first race. That's minus $40. Your next bet would be $40 on each. If a winner (placegetter) is backed, you then go back to $20 bets. If the second bets produced two losers, you would then back $60 on each of the bets in the third race.

You do not, of course, go lower than your original unit (in the example I have given this is $20). The rules need to be followed faithfully.

Even though your placers might arrive at short odds, you still regress. The aim of the plan is to make a marginal profit and this will usually be achieved when you are back to the starting point.

The one change to the rules that could be considered would be a repeat of the stake if the price of a winner (placegetter) was such that a two-horse bet showed a loss.

Backing placers, there is a good chance you will often land both selections for a divvie. Usually, you should be able to get at least one of them home.

I know a chap in Sydney who follows this plan for the place but he stops betting as soon as he has made a profit on a race, no matter how small. He bets in $250 units. He says he can 'guarantee' that he'll get a profit within a couple of races usually.

As I write this, he has backed Mustang Red and Bombast and scored a double-placing at Flemington!

This man has patience. He also makes money from his betting.

By Richard Hartley Jnr